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Private equity and hedge funds : post-global financial crisis performance and regulations
Rao, Sandeep; Tandon, Shivani; Koirala, Santosh - In: Themes in alternative investments, (pp. 61-74). 2024
Persistent link: https://www.econbiz.de/10014636824
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Private equity performance under extreme regulation
Cumming, Douglas; Zambelli, Simona - In: Journal of Banking & Finance 37 (2013) 5, pp. 1508-1523
This study investigates the impact of excessive regulation on private equity (PE) returns and firm performance. History … shows that extreme regulation and prohibition reduce the supply of capital and raise returns (e.g., as with drugs and … diamonds). However, for value-added investors such as PE funds, extreme regulation also reduces the quality of capital and fund …
Persistent link: https://www.econbiz.de/10010741774
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Evolution of Debt Financing toward Less-Regulated Financial Intermediaries in the United States
Erel, Isil; Inozemtsev, Eduard - National Bureau of Economic Research - 2024
important are the distortions in the greater regulation of banks that differentially limit risk-taking across alternative … COVID-19 pandemic shock. We argue that tighter bank regulation has created incentives for nonbanks to increase their …
Persistent link: https://www.econbiz.de/10014486206
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Tick size regulation and sub-penny trading
Buti, Sabrina; Rindi, Barbara; Wen, Yuanji; Werner, … - 2013
We show that following a tick size reduction in a decimal public limit order book (PLB) market quality and welfare fall for illiquid but increase for liquid stocks. If a Sub-Penny Venue (SPV) starts competing with a penny-quoting PLB, market quality deteriorates for illiquid, low priced stocks,...
Persistent link: https://www.econbiz.de/10010227726
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Hole in the wall : informed short selling ahead of private placements
Berkman, Henk; McKenzie, Michael D.; Verwijmeren, Patrick - In: Review of finance : journal of the European Finance … 21 (2017) 3, pp. 1047-1091
Persistent link: https://www.econbiz.de/10011803786
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Berkshire versus KKR : Intermediary influence and competition
Cunningham, Lawrwence A. - 2015
Kathryn Judge of Columbia University documents how financial intermediaries persistently impose high fees compared to the value rendered, attributes this to political influence, and suggests countervailing policy strategies, including stoking competition and enhancing disclosure to reduce...
Persistent link: https://www.econbiz.de/10011492987
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Chapter 8. A Survey of Venture Capital Research
Rin, Marco Da; Hellmann, Thomas; Puri, Manju - 2013
This survey reviews the growing body of academic work on venture capital. It lays out the major data sources used. It examines the work on venture capital investments in companies, looking at issues of selection, contracting, post-investment services, and exits. The survey considers recent work...
Persistent link: https://www.econbiz.de/10014025556
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Limited partner performance and the maturing of the private equity industry
Sensoy, Berk A.; Wang, Yingdi; Weisbach, Michael S. - 2013
We evaluate the performance of limited partners' (LPs) private equity investments over time. Using a sample of 14,380 investments by 1,852 LPs in 1,250 buyout and venture funds started between 1991 and 2006, we find that the superior performance of endowment investors in the 1991-1998 period,...
Persistent link: https://www.econbiz.de/10009724586
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Agency costs and investor returns in private equity : consequences for secondary buyouts
Degeorge, François; Martin, Jens; Phalippou, Ludovic - 2013
Private equity firms increasingly sell companies to each other in secondary buyouts (SBOs). We examine commonly expressed concerns regarding SBOs using novel and unique datasets. SBOs made by buyers under pressure to spend capital (a minority of transactions) underperform and destroy value for...
Persistent link: https://www.econbiz.de/10010256966